MEG Energy (TSE:MEG) Stock Price Passes Above 50-Day Moving Average – What’s Next?

MEG Energy Corp. (TSE:MEG)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$30.89 and traded as high as C$31.03. MEG Energy shares last traded at C$30.89, with a volume of 6,350,674 shares changing hands.

MEG Energy Trading Up 0.7%

The firm has a market cap of C$7.86 billion, a PE ratio of 14.64, a PEG ratio of 0.17 and a beta of 0.45. The company has a debt-to-equity ratio of 22.34, a current ratio of 1.73 and a quick ratio of 1.17. The business has a 50-day moving average price of C$30.89 and a two-hundred day moving average price of C$30.25.

MEG Energy Company Profile

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.